Fortis says it is now a clearing member of the European Energy Exchange (EEX) in Germany, one of the fastest growing in Europe.
“Our business growth over the past year has been unprecedented – we’ve doubled our reach into energy exchanges, with plans to double again in 2007,” says Johannah Ladd, Sales Manager of energy products, Brokerage, Clearing & Custody, at Fortis. “With connection now to the EEX, we’re able to service clients on the largest European energy market.”
Jan Bart de Boer, Global Commercial Director Brokerage, Clearing & Custody, says the global energy markets are now a strategic focus for Fortis. “We’re extremely pleased to have added the significant German energy market to our offering,” he says.
Fortis was admitted in December 2006 as a General Clearing Member and trading participant on the derivatives market. In 2006, the number of trading participants on EEX rose to 158 from 132 companies, from a total of 19 countries. EEX boasts a market value of EUR 14.1 billion (as of year-end 2006). Fortis also began clearing this month the new Dutch TTF gas contract on the European Energy Derivatives Exchange (ENDEX).
Fortis is one of the largest independent third-party clearers in Europe, Asia/Pacific and the US and offers trading facilities and global clearing for the derivatives, equities, bonds and commodities markets.